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Scottsdale, AZ Real Estate News

By Heather Tawes Nelson, Associate Broker, ABR, CLHMS, CRS - Scottsdale, AZ
(Live Better in Arizona )
- March 2024 Scottsdale Homes for Sale and Home Sales - Now that it is the high season, we are seeing lots of sales activity in Scottsdale. Inventory, contracts and sales were all up. SCOTTSDALE HOME SALES ACTIVITY –  MARCH 2024 Each month, we look at the following four items related to home sales: - Single-family homes for sale - Orange Line - How many homes were on the market at the end of the month. - Under contract, but accepting backup offers (UCB) - Gray Line - The number of UCB contracts there were at the end of the month. - Pending home sales - Yellow Line - How many pending sales there were at the end of the month.*- Home Sales - Blue Line - How many homes sold during the month. MARCH 2024 RESULTS Scottsdale Homes for Sale: Inventory fell slightly by the end of the month. Howev...
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By Jane & Jeff Daley, PhD, Scottsdale Real Estate Arizona
(Luxury Valley Homes Scottsdale)
Is It Getting More Affordable To Buy a Home?Over the past year or so, a lot of people have been talking about how tough it is to buy a home. And while there’s no arguing affordability is still tight, there are signs it’s starting to get a bit better and may improve even more throughout the year. Elijah de la Campa, Senior Economist at Redfin, says:“We’re slowly climbing our way out of an affordability hole, but we have a long way to go. Rates have come down from their peak and are expected to fall again by the end of the year, which should make homebuying a little more affordable and incentivize buyers to come off the sidelines.”1. Mortgage RatesMortgage rates have been volatile this year – bouncing around in the upper 6% to low 7% range. That’s still quite a bit higher than where they ...
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By Matt Horton, North Scottsdale Real Estate
(Platinum Living Realty)
New Condo in DC Ranch for $385k (SAME UNITS SOLD AT $676k)    If you are looking for a great deal in DC Ranch, I just came across a BRAND NEW Condo right near Market Street for $385k!  Yes $385k!!!!! I know we are all trying to "time" the market to buy, but it would be hard to find anything comparable in the area for a lower price!  The key word is comparable! This is an incredible well built condo in North Scottsdale.  1500 sq.ft 2 Bedroom, 2 Bath If you are looking, have a parent, friend or investor looking to get into DC Ranch, this is truly a great opportunity.  Perfect 2nd home as well and walking distance to Market Street! Call Matt Horton at 480-227-3311 to set a time to view this property!  You can also email me for more info and to create your own custom search sent directly to...
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By Paul Slaybaugh, Scottsdale, AZ Real Estate
(Homesmart)
You want to buy a bank-owned property.  Your friends, family, mailman, dental hygienist ... even your Realtor have told you that the foreclosure market is where you pan for gold in this market.  Lo and behold, the hygienist might actually be right this time (bummer about that last hot stock tip, though).     I am actually a late convert to the bank-owned frenzy because I have long been wary of purchasing property that lacks the standard disclosures, maintenance ... and humanity, if you will.  Up until recently, it was often a mad rush for fool's gold, as well.  The allure of "cheap" often masked an unreported truth: many foreclosure properties were actually priced at, or even above, market value. Well, the worm has certainly turned.  So much so, in fact, that I find myself seeking out t...
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By Heather Tawes Nelson, Associate Broker, ABR, CLHMS, CRS - Scottsdale, AZ
(Live Better in Arizona )
Here are the December 2008 figures for the Scottsdale luxury home market. This analysis looks at single-family resale homes in Scottsdale priced $1,000,000 and above over the last twelve months.- DECEMBER 2008 -  Homes Priced Between $1,000,000 - $1,499,999- Actives: There were 518 active homes for sale, which is the lowest this figure has been over the last 12 months. The 12 month average is 580 active homes. The drop can be attributed to a healthy jump in sales as well as a significant number of expired listings. - Pendings: Pending homes for sale in this price segment were very down in December. There were 11 pending home sales, which is much lower than the 12 month average of 32.  - Sold: Sixteen homes sold in November. This was a very welcome jump over November's two home sales. Wh...
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By Michael Manfredi, Real Estate & Mortgage
(Michael A. Manfredi)
JB Nutter issues a two week moratorium on new file submissions and 1st reverse issues the following statement: "At present there is very little investor interest in product and actually a lack of secondary availability. Fannie Mae remains the principal ultimate investor and continues to address a number of internal issues which will affect their ability to provide a level of confidence in the marketplace as well."
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By Heather Tawes Nelson, Associate Broker, ABR, CLHMS, CRS - Scottsdale, AZ
(Live Better in Arizona )
December 2008 was an interesting month for the Scottsdale real estate market. Sales numbers were back up as a whole, particularly in the lower-priced segments. Inventory was down significantly, due to increased sales activity as well as a very large jump in the number of expired listings.   December Highlights: - The number of active homes for sale dropped substantially from 4,072 in November to 3,790 in December. A lot of this can be attributed to a large spike in expired listings. The average number of expired listings per month over the last 12 months has been tracking at 202. In December, that figure was 343 - a 130% increase. We also saw a 28% jump in sales from November to December which also has some impact.- The only negative news this month is that the number of pending sales d...
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By James Wexler
(wexzilla.com)
There are no shortage of wonderful golf communities to choose from when deciding to buy Scottsdale Real estate. Troon, Troon North, Desert Mountain, Grayhawk, Estancia, Desert Highlands and Ancala Golf club and DC Ranch an Silverleaf are all luxury gated Scottsdale golf communities with championship golf courses.   DC Ranch in North Scottsdale (85255 zip code) has just celebrated its 10th Anniversary and is one of the most prestigious golf communities with the a variety of home choices from under $400K to over $4MM. DC Ranch is separated in 4 unique villages. Desert Parks Village Desert Camp Village Market Street Village Country Club Village If you are considering life in North Scottsdale or living in DC Ranch,  hire an agent who knows North Scottsdale and has the experience to get the ...
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By Andrew Monaghan, CRS, GRI, EPro Associate Broker
(The Monaghan Group)
The fallout from the bankruptcy of Mortgages ltd here in phoenix continue to reverberate throughout the building community, this morning i read in the Arizona republic http://tinyurl.com/9rezry that the building that is only 90 days from completion is now stalled until the reorganized. This community is located in downtown Scottsdale at the corner of Scottsdale Road and Osborn Rd.
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If you want to make golf a regular part of your life, there are no shortage of wonderful golf communities to choose from when deciding to buy Scottsdale Real estate. Troon, Troon North, Desert Mountain, Grayhawk, Estancia, Desert Highlands and Ancala Golf club and DC Ranch an Silverleaf are all luxury gated Scottsdale golf communities with championship golf course If you are visiting Scottsdale AZ, I recommend you consider playing Eagle Mountain Golf Club in Fountain Hills AZ. The views of Camelback Mountain, Scottsdale and downtown Phoenix will make you (almost) forget about the bogey on the last whole.The course has earned numerous awards including Best new public golf course by the Arizona Republic. If you are on the West side of Phoenix, I recommend you play at the Golf Club of Estr...
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By James Wexler
(wexzilla.com)
Phoenix AZ should be known as the land of Golf. Visitors from all over the worlds travel each year  to explore all that the Valley of the Sun and the Sonoran Desert has to see and do. Yes, choices include hiking, biking, museums, zoos, hunting, fishing, camping, boating, old west towns, shopping, eating. However, what Phoenix AZ and Scottsdale AZ is really know for is golf, golf, golf and more golf. If golf is your game, you have come to the right city. There are more than 400 golf courses in greater Phoenix AZ and Scottsdale AZ that include famous names include Troon North Golf Club, Talking Stick, and the TPC Scottsdale. Also, take a look at Wildfire Golf Club, Phoenician Golf Club and Raven Golf Club at South Mountain. No matter where you are in the city of Phoenix or the surrounding...
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By Daniel Wexler
(ReMax)
The reputation of DC Ranch and its prestigious sister golf community, Silverleaf is unparalleled in the greater Phoenix area and all of Arizona. The DC Ranch resort lifestyle affords some of the most desired locations in Scottsdale with access to highways, great schools, boutique shopping and fine dining cuisine just steps from your front door on DC Ranch Market Street. The restaurants and shopping are one of a kind, even for Scottsdale and have now extended to Canyon Village with restaurants Grazie Wine Bar and Cafe' Ted. Situated next to the DC Ranch Village Health Club, an 81,000 square foot state of the art health and fitness club that includes children's day care, mountain biking rentals and large heated pools, is DC Ranch Crossing which today is celebrating their grand opening anc...
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By Daniel Wexler
(ReMax)
DC Ranch is an intimate golf and exclusive community designed by DMB Partners as a premier resort, retirement and golf community nestled in the McDowell Mountains. This 3,700 acre master planned community is one of the most desirable place to live, not only in Scottsdale, but Arizona. Tree-lined streets, family parks, walking paths through breathtaking desert landscape and community centers with pools, fitness club and recreational facilities add to the intimate and pleasant nature of the community which is broken up into 4 unique villages. Desert Parks Village Desert Camp Village Market Street Village Country Club Village
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By James Wexler
(wexzilla.com)
Welcome to the second installment of my 3-part series on luxury urban living in Scottsdale, AZ. Phoenix residents, out of town visitors think of Scottsdale as a vacation destination or golf courses and famous spas. This decade,  Scottsdale  has exploded in it development of its quiet western urban center to a hot , hip city center with Scottsdale best restaurants, shopping and social scene. We still call downtown Scottsdale,  Old Town Scottsdale. However, there is nothing old about it except its charm. You can buy luxury condominiums,  contemporary town homes and ultra-modern lofts. Please read yesterday's article for more Scottsdale luxury condos and town homes. These are several more of the  popular Scottsdale condo communities that you should take a look:  TenWine Lofts - "X"Ten Wine...
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By James Wexler
(wexzilla.com)
Welcome to the Third installment of my 3-part series on luxury urban living in Scottsdale, AZ. Phoenix residents, out of town visitors think of Scottsdale as a vacation destination or golf courses and famous spas. This decade,  Scottsdale  has exploded in it development of its quiet western urban center to a hot , hip city center with Scottsdale best restaurants, shopping and social scene. We still call downtown Scottsdale,  Old Town Scottsdale. However, there is nothing old about it except its charm. You can buy luxury condominiums,  contemporary town homes and ultra-modern lofts. Please read yesterday's article for more Scottsdale luxury condos and town homes. These are several more of the  popular Scottsdale condo communities that you should take a look: Portico Lofts - At the Portic...
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By Paul Slaybaugh, Scottsdale, AZ Real Estate
(Homesmart)
Let’s face it, if you are in the market to buy or sell a home as we approach 2009, you are either the hunter or the hunted.  You are in financial disarray or you are seeking to exploit the struggles of another.  I say this without judgment.  A transaction which involves the antithetical goals of two or more parties is replete with advantage seeking in the best of times.  Amidst unyielding economic turmoil, that truth is only exacerbated.  We all want leverage. With apologies to Jennifer Allan, you might call it the age of "Selling with Sole."  We use the foot of information to kick the other guy's chicklets out. Buyers who may have already had their noses bloodied as sellers, look to bloody the nose of the next guy to bring a certain “circle of life” equilibrium to their experience.  Se...
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By Heather Tawes Nelson, Associate Broker, ABR, CLHMS, CRS - Scottsdale, AZ
(Live Better in Arizona )
Here is November 2008's update on the Scottsdale luxury home market. This analysis looks at single-family resale homes in Scottsdale. - NOVEMBER 2008 -  Homes Priced Between $1,000,000 - $1,499,999- Actives: There were 549 active homes for sale. This number has been increasing for the last few months, but is still less than the 12 month average 583 active homes. - Pendings: There were 22 pending homes pending sale, which was a 46.7% jump over October where there were only 15. However, we this segment is still tracking just below the average of 39 pending sales we have seen over the last 12 months.  - Sold: Only 2 homes sold in November. This is dramatically off from the average of 21 sales per month. My impression is that the significant drop was due to the tightening of the mortgage ma...
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By Justin McHood, I *used* to know stuff about mortgages.
(parlayo)
Scottsdale Arizona Mortgage Rates for December 8 2008 As we have mentioned before, we are expecting guidelines to play a bigger role than interest rates when qualifying for a mortgage.  Guidelines are tightening up, and even if interest rates drop to the 4.5% level (as the proposed plan from the Treasury would do), if you can't qualify for a mortgage due to guideline changes, what good is a 4.5% interest rate?
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By Heather Tawes Nelson, Associate Broker, ABR, CLHMS, CRS - Scottsdale, AZ
(Live Better in Arizona )
November was another challenging month for Scottsdale home sales. The number of homes for sale increased for the second month in a row and sales were down significantly. The good news is that pending sales were up over the prior month. November Highlights: Active Homes for Sale - The number of homes for sale went above the 4,000 mark to 4,072, a 2.6% increase over October. This is the first time this figure has been over 4,000 since May of 2008. Homes Pending Sale - Pending home sales actually increased in November from October. There were 259 pending sales in November, up 4.9%. However, this is still below the 12 month average of 294 pending sales. Sold Homes - The number of homes sold dropped dramatically in November to 177, a 22.4% decrease over October. This is the fifth month in a ...
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By Paul Slaybaugh, Scottsdale, AZ Real Estate
(Homesmart)
It’s hard to imagine improving upon the kids and ice cream concept.  You say, “Want to go get ice cream?”  They say, “ICE CREAM!”  You take that as a yes, drive them to the local parlor and there is much rejoicing. Looking for that elusive next level of frozen fun, however, we stumbled across Yogurt Builderz in Scottsdale.  Tucked in amongst the businesses on the Northwest corner of Scottsdale & Thunderbird Rds, Yogurt Builderz offers a more interactive experience.  Given cups and directions, Brandi, the boys and I were loosed upon various flavors and toppings (including a couple of unusual selections like pomegranate and kiwi/strawberry).  We were free to grab any size container we wished, and as many flavors/toppings as our imaginations would hold.  The cost is based purely on weight....
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